Monthly Archives: January 2008

Rebirth, rewind, repeat.

Posted on January 15, 2008 by grim

From the Asbury Park Press: Picking up pace on the boardwalk Madison Marquette, the lead partner redeveloping the city’s boardwalk pavilions and historic buildings, has announced ambitious plans for the summer that include opening several new restaurants — one of … Continue reading →

Posted in New Development, New Jersey Real Estate | Comments Off on Rebirth, rewind, repeat.

“Is this the end of the story? I don’t think so”

Posted on January 14, 2008 by grim

From Bloomberg:

Posted in Housing Bubble, National Real Estate | 127 Comments

“It’s priceless”

Posted on January 14, 2008 by grim

From the Herald News: Blogger at home exposing market By Heather Haddon (Leslie Barbaro/Herald News) James Bednar’s first and only attempt at buying a house transformed the 31-year-old software programmer into a real estate guru. In 2005, Bednar and his … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 255 Comments

Foreclosures derail Trenton revitalization

Posted on January 14, 2008 by grim

From Reuters: Mayors face test of spreading foreclosures Mayor Douglas Palmer, meeting with visitors at City Hall, points to a large map peppered with dark dots. Each one represents a home or group of homes on the verge of foreclosure, … Continue reading →

Posted in New Jersey Real Estate, Politics, Risky Lending | 13 Comments

Can’t afford to wait

Posted on January 14, 2008 by grim

From the Herald Tribune: Some can’t afford to wait to sell A recent letter said Realtors and sellers should wait to sell so they don’t perpetuate the real estate free fall. The author is fortunate that he wishes to sell … Continue reading →

Posted in Housing Bubble, National Real Estate | 3 Comments

Weekend Open Discussion – Part II

Posted on January 12, 2008 by grim

Now Open, Part II! Prior weekend thread closed due to comment overflow.

Posted in General | 329 Comments

Weekend Open Discussion

Posted on January 11, 2008 by grim

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

Posted in General | 371 Comments

Recession in 2008?

Posted on January 11, 2008 by grim

From the Wall Street Journal: Odds of Recession Seen Rising Economists in Survey Predict Slower Growth, Unemployment Increase By PHIL IZZO January 11, 2008 Economists surveyed by The Wall Street Journal see increasing odds of a recession this year along … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | 2 Comments

“I suspect there’ll be more to come”

Posted on January 11, 2008 by grim

From Bloomberg: Merrill Lynch to Take $15 Billion Mortgage Writedown, NYT Says Merrill Lynch & Co., the third- largest U.S. securities firm, may write down $15 billion related to U.S. mortgage losses, almost twice its original estimate, the New York … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | Comments Off on “I suspect there’ll be more to come”

A novel approach to foreclosure rescue

Posted on January 10, 2008 by grim

From Fortune: Will foreclosures spark an arson boom? Faced with foreclosure on her Russellville, Indiana home, Christina Snyder allegedly concocted the kind of plan that now has insurance executives on edge. According to the county prosecutor, the 31-year-old Snyder allegedly … Continue reading →

Posted in Housing Bubble, National Real Estate | 306 Comments

Greenspan caused the crisis?

Posted on January 10, 2008 by grim

From Bloomberg: Greenspan’s ‘Superstar’ Status at Risk as Recession Risks Grow The next bubble to deflate may be Alan Greenspan’s reputation. Hailed as perhaps the greatest central banker who ever lived when he left the Federal Reserve in 2006, Greenspan … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 6 Comments

North Jersey December Pending Home Sales

Posted on January 9, 2008 by grim

Contracts for sale in Northern NJ fell to their lowest in more than two years (actually much worse, see below) in December, down approximately 31% year over year (NJMLS & GSMLS). Tremendous weakness was seen in the fringe commuter areas, … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 308 Comments

No housing recovery in the near-term

Posted on January 9, 2008 by grim

From the NY Times: Realtors’ Index Shows Dip for Existing-Home Sales Pending home sales dipped in November, a trade group for real estate agents said on Tuesday, but the association expects sales to pick up in the second half of … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | Comments Off on No housing recovery in the near-term

Northeast joins the party

Posted on January 8, 2008 by grim

From Bloomberg: Northeast Is Toughest Place in U.S. to Sell Homes The toughest place to sell a home in the U.S. in November was the Northeast as homebuyers sat on the sidelines in an area that has seen the biggest … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 7 Comments

“Need a job? Good luck.”

Posted on January 8, 2008 by grim

From the NY Daily News: New York economic slump! ’08 forecast looks at few new jobs, ballooning deficit Need a job? Good luck. New York will gain just 500 jobs this year – if we’re lucky – according to a … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 255 Comments